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April 15, 2023
Question

Deducting theft loss

  • April 15, 2023
  • 1 reply
  • 0 views
I was ripped off by a pool contractor who filed Bankruptcy and abandoned my project. There is a pending case against them. It ended up costing me an additional $35,000 to finish. Is any of this tax deductible?

1 reply

April 15, 2023

if the property was not used at all for rental, none of that $35K is deductible.